Question

A car dealership paid $9,000 for a car. The sticker price is $10,395 for a customer to buy the car. a. What’s the markup in dollars? b. By what percent is the markup?

Answer 1

1) To determine how much the change of $9,000 to $10,395, we must subtract 9,000 from 10,395;

10,395 - 9,000 = $1,395 is the change in price (an increase).

Formula to find percentage of change;

Change in price/original amount x 100% (100/100)

Replace those values:

1,935 (change in price/increase) 100

_____ x _____ = %0.215

9,000(original amount) 100